XRP Lawsuit Update: Ripple, SEC May Drop Appeals Before August 15 Deadline
As the August 15 status report deadline approaches, the long-standing battle between Ripple and the U.S. Securities and Exchange Commission.
Quick overview
- The Ripple vs. SEC lawsuit is approaching a critical status report deadline on August 15, which may lead to both parties withdrawing their appeals.
- Former SEC attorney Marc Fagel believes that while the August 15 date is not a hard deadline, it could signal a move towards closure in the case.
- Ripple has already paid a $125 million penalty, and the SEC is expected to follow internal processes to dismiss its appeal within 1-2 months.
- If appeals are dropped, it could pave the way for a final resolution and set a precedent for future cryptocurrency regulatory cases.
As the August 15 status report deadline approaches, the long-standing battle between Ripple and the U.S. Securities and Exchange Commission (SEC) is gaining momentum. Marc Fagel, a former SEC attorney, thinks both sides will withdraw their appeals before the August 15 deadline – and that could be the end of the XRP lawsuit.
Fagel wrote on X that August 15 isn’t a hard deadline to dismiss but a reporting milestone. But he believes the parties are positioning themselves to make a decision before then. That’s got the XRP community talking about a near-term resolution.
Fagel said dropping appeals doesn’t guarantee a full settlement but it would mean both sides are moving towards closure. After all the delays, investors and crypto enthusiasts are eager for clarity.
Status Report: What August 15 Means
The XRP lawsuit has seen many twists since it started in December 2020. August 15 is a procedural update – not a verdict or ruling – but it’s important for several reasons. Judge Analisa Torres recently denied a joint motion for an indicative ruling so both sides must now file a status report with the court.
Marc Fagel pointed out neither Ripple nor the SEC is stalling. Ripple has already paid the $125 million penalty and according to Fagel the SEC is just following internal process. Once an internal vote is held the SEC will dismiss its appeal – an administrative step that takes 1-2 months.
Key Points:
- August 15: Status report deadline not settlement.
- $125 million: Penalty already paid by Ripple.
- 1-2 months: Standard time for SEC to dismiss appeal.
Dismissals Could Mean Closure Soon
No official filings have been made to drop the appeals but insiders think they will be. Fagel dismissed rumors of obstruction saying the judge has no pending decisions and the SEC is not blocking the process. In fact everything is moving along as usual.
If both appeals are dropped it would remove major roadblocks and open the door for a final resolution – and set a precedent for future crypto cases. The next few weeks will be big not just for Ripple but for broader regulatory clarity in the digital asset space.
While investors should remain cautious, all signs suggest that the long-running XRP lawsuit is entering its final chapter.
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